Otter Tail (OTTR) FY2018 results: revenue $916 million, up 7.9% on the year
Otter Tail Corp. (OTTR) reported revenue of $916 million for fiscal 2018, the year ended 31 December 2018, up 7.9% on the year before. Net income was $82 million, up 13.7%, and diluted earnings per share $2.06. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$916 million
+7.9% on the year
FY2011FY2018
Operating margin
14.1%
15.6% a year earlier
FY2011FY2018
Net income
$82 million
+13.7% on the year
FY2011FY2018
Diluted EPS
$2.06
+13.2% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
916
849
804
+7.9%
Operating income
129
132
117
-2.2%
Operating margin
14.1%
15.6%
14.5%
Pre-tax income
96.9
99.7
82.5
-2.8%
Income tax
14.6
27.3
20.2
-46.5%
Effective tax rate
15.0%
27.3%
24.5%
Net income
82.3
72.4
62.3
+13.7%
Net margin
9.0%
8.5%
7.8%
Diluted EPS
$2.06
$1.82
$1.61
+13.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
143
174
163
-17.4%
Capital expenditure
105
133
161
-20.7%
Free cash flow
38.0
40.7
2.1
-6.5%
Free cash flow margin
4.1%
4.8%
0.3%
Cash from investing
-107
-133
-159
Cash from financing
-51.4
-24.8
-4.1
Depreciation and amortisation
74.7
72.5
73.4
+2.9%
Share-based compensation
4.4
3.6
3.2
+21.9%
Buybacks
3.0
1.8
0.1
+67.4%
Dividends paid
53.2
50.6
n/a
+5.1%
Dividend per share
$1.34
$1.28
$1.25
+4.7%
Diluted shares, weighted
40m
40m
39m
+0.4%
Shares outstanding at period end
40m
40m
39m
+0.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
729
697
670
+4.6%
Debt
609
603
581
+1.0%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
715
704
661
+1.5%
Total liabilities and equity
2,053
2,004
1,912
+2.4%
Fixed assets
1,581
1,540
1,477
+2.7%
Goodwill
37.6
37.6
37.6
0.0%
Intangible assets
12.4
13.8
15.0
-9.6%
Investments
9.0
8.6
8.4
+3.8%
Cash and equivalents
0.9
16.2
0.0
-94.7%
Receivables
75.1
68.5
68.2
+9.8%
Inventory
106
88.0
83.7
+20.7%
Other assets
230
232
222
-0.8%
Total assets
2,053
2,004
1,912
+2.4%
10-K for the year ended 31 December 2018, filed 19 February 2021: the filing.